Home› Precious Metals

Eric Janszen

WeissWeiss Posts: 9,941 ✭✭✭✭✭
in Precious Metals
A friend sent me this article. Janszen's premise is that gold is not a meaningless commodity with little utility and it is not in a bubble--at least not currently. He picks apart those arguments pretty well using logic and straightforward facts.

Key point I took away from it: if gold is no utility, no intrinsic value, why is it the only commodity owned by central banks? If anything, their ownership underscores gold's position as a legitimate currency--fallback or otherwise.

That itself blows away the "no utility/no intrinsic value" argument. If gold has no value, then the dollar, the yen, the euro have no value--which we know is not true. And of the legitimate currencies, none other are as global and as free from manipulation.

It's a very long article but if you've got the time it's worth the read:

http://www.itulip.com/forums/showthread.php?p=141535#post141535
We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
--Severian the Lame

Comments

Sign In or Register to comment.